Day: September 9, 2023

Binance’s exec exodus, Nasdaq to trade AI orders, and more

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Top Stories This Week Binance crypto exchange saw 10 key execs leave in 2023. Here’s the list A key talking point in the crypto community has been the ongoing exodus of executives from Binance amid growing regulatory troubles. Binance has seen the departure of 10 key executives from various departments in the first nine months of 2023. The latest to join the list is Helen Hai, executive vice president of Binance, who announced her resignation from her post on Sept. 6. On the same day, Gleb Kostarev, vice president of…

Congressman pushes for limits on SEC crypto enforcement funds

Minnesota Congressman Tom Emmer plans to present a budgetary amendment to limit the U.S. Securities and Exchange Commission (SEC) from utilizing its crypto regulations budget. Emmer, a Republican who holds the role of Majority Whip in the U.S. House of Representatives, is gearing up to sponsor a significant appropriations amendment bill, citing worries of excessive authority exerted by SEC chair Gary Gensler. This amendment seeks to limit the SEC’s ability to allocate taxpayer funds for digital asset enforcement efforts. Gensler’s actions negatively impact Americans’ ability to explore the potential of…

G20 leaders support FSB recommendations on crypto regulation

The leaders of the G20 nations have thrown their weight behind the Financial Stability Board’s (FSB) recommendations regarding the regulation of crypto. In a landmark move, the G2O intergovernmental forum, on Sept. 9, voiced its support for a slew of recommendations prepared by the FSB to regulate and oversee the global crypto industry. The announcement, made by Indian Finance Minister Nirmala Sitharaman, came at the New Delhi Leaders’ Meeting, where G20 members expressed their intent to monitor the fast-paced changes in the digital finance space. 🚨 BREAKING: 🇮🇳 India’s Finance…

SEC cites ‘knotty legal problems’ as reason for appealing Ripple ruling 

The U.S. Securities and Exchange Commission (SEC) argues that the issues raised by the recent court order in favor of Ripple Labs and its native token, XRP, represent complex legal challenges that warrant an appeal of the ruling. The SEC opposes the court’s verdict and has clarified that these “knotty legal problems” warrant a review. SEC not accepting defeat  The SEC is currently engaged in an ongoing legal battle against Ripple Labs, the creators of the XRP altcoin. The regulator seeks to appeal Judge Analisa Torres’ ruling that XRP was a…

Everything you need to know about LFi and CEO Luiz Góes

If you’re following wealth creation trends, you may have heard of LFi and its CEO, Luiz Góes. This article delves into the fintech company and its chief. LFi company overview   LFi is a blockchain-based decentralized network that seeks to revolutionize economic innovation. Its strategy anchors on a decentralized autonomous organization (DAO), with community members having control and ownership. They can make governance decisions through a democratic voting process. The LFi ecosystem has its utility token, LFi. Users can also convert LFi into vLFi via vesting. In this way, they receive…

SBF blames slow internet as lawyers refute DoJ claims that computer access is sufficient

FTX founder Sam Bankman-Fried’s legal team argued that the Department of Justice (DoJ) is embellishing their client’s access to defense documents. In a letter released on Sept. 8, the defense insisted that their client’s access to necessary legal material via laptops is limited. Meanwhile, prosecutors maintain that they have resolved the laptop issues with cooperation from the defense.  The bone of contention is the alleged inadequate conditions at the Metropolitan Detention Center (MDC), which the defense posits are hindering their client from adequately preparing for his forthcoming trial in October.…

G20 moves forward with international crypto framework

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Leaders of the 20 biggest economies in the world — collectively known as G20 — are pushing for a speedy implementation of a cross-border framework for crypto assets.  According to local reports in New Delhi — where the group members are attending for a two-day summit — the framework will facilitate information exchange between countries beginning in 2027. “We call for the swift implementation of the Crypto-Asset Reporting Framework (CARF) and amendments to the CRS [Common Reporting Standard]. We ask the Global Forum on Transparency and Exchange of Information for…

Stellar (XLM) Soars By 17% In A Single Week, Can Bulls Maintain Push To $1?

As the general crypto market experiences a slight gain in total market cap, Stellar (XLM) stands out with a substantial amount of price increase over the last week. According to data from CoinMarketCap, the XRP competitor is up by 17.61%, outperforming every other top 100 cryptocurrency in the past seven days.  XLM To Reach $1? With XLM currently hovering around the $0.13 price zone, there are speculations on the next movement. Interestingly, a crypto analyst with the name EGRAG CRYPTO on X (formerly Twitter) predicts that XLM could rise to…

JPMorgan unveils blockchain-based token for faster payments

JPMorgan Chase & Co. is delving into the realm of blockchain-based digital deposit tokens, aiming to enhance cross-border payments and settlements. However, regulatory approval remains a crucial hurdle for this innovative payment method. According to a Bloomberg report, the New York-based investment bank and financial advisor is deepening its roots in the blockchain ecosystem and rolling out a new blockchain-based deposit token to enhance payments on its platform.  In simple terms, deposit tokens are digital representations of deposits held by customers in commercial banks. These tokens are designed to streamline…

Here’s Why Ethereum Price Barely Moved Following Ark’s ETF Application

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The price of Ethereum seems to be back under the influence of the current market sentiment despite enjoying a relatively positive week. On Wednesday, September 6, Ark Invest filed for the first Ethereum spot exchange-traded fund (ETF) in the United States. This ETF application had a tame impact on the price of Ether, with the cryptocurrency only climbing to $1,650 the following day. Moreover, the token has almost fully reversed the minor gains from the significant development. Ethereum Price Registers 0.1% Rise Last Week – Here’s Why Ethereum currently changes…